Another FB is a mortgage 'insiders' view on the lending industry, the housing bubble, and the loose credit standards that drove it all. This site is dedicated to educating people on how to make good financial decisions and not become another F@CKED Borrower (FB)!!
Many of these bwrs had NO business getting a loan...but lax underwriting standards, low rates, stated income, interest only loans, option-ARMs, neg-am's, no-doc loans, and more, made this froth/bubble possible.

The one that grabbed my attention the most was the ‘rise in mortgage defaults among most creditworthy borrowers’. I knew this would happen, but I had not seen any hard data yet to prove it. I have contacts in capital markets that have told me lots of ALT-A loan pools are in double digit delinquency, but I had not heard much about the ‘A-paper’ loans that go to the ‘most creditworthy borrowers’.

I know this info is about a week old, but from my standpoint, it isn’t really surprising or news to me. That said, I am working on a new post that deals that should help discuss this situation in detail. I have had the little picture-in-picture window on my computer tuned to CNBC the past few months, so I am very familiar with what the financial pundits are saying about the subprime mortgage mess. I have some feedback of my own, so stay tuned for that.Thanks for stopping by and for understanding that this blog is not a real source of revenue for me, and that is why I have not been posting as frequently lately.